Stock brokerages such as Motilal Oswal, Nuvama Institutional Equities, Anand Rathi, and Asian Market Securities have come out with research reports on select stocks, namely Titan, Sobha, HUL, ideaForge Technology. Here's what brokerages said about these counters.
Domestic brokerage Motilal Oswal has a ‘buy’ call on Tata Group company Titan’s shares with a target price of Rs 3,325. According to analysts, earnings growth visibility remains strong for Titan. It has compounded earnings by around 20% for an elongated period.
“Titan Company has ample opportunities for growth, given its sub10% market share in Jewellery and the ongoing challenges faced by its unorganised and organised peers. Its medium-to-long-term earnings growth potential is unparalleled,” said Motilal Oswal in its report.
Nuvama Institutional Equities has a ‘Buy’ rating on Sobha Ltd stock with a target price of Rs 679 per share. With the housing cycle turning, analysts at Nuvama expect the sales momentum to remain healthy. RERA-driven consolidation is throwing up growth opportunities for organised players such as Sobha, they noted.
“Revival in housing demand coupled with Sobha’s focus on cash flows and geographical expansion should hold it in good stead. Cash flow improvement is a key stock catalyst, in our view. We await clarity on the ongoing regulatory/legal issues, and believe their resolution will be a key variable,” Nuvama Research said in its report.
Anand Rathi Share and Stock Brokers has a ‘Buy’ rating on Hindustan Unilever Ltd (HUL) shares with a target price of Rs 3,500. The brokerage believes an upturn in rural demand, continuing premiumisation, and modest input inflation coulddrive volume and margin surprises in FY24.
Analysts at Anand Rathi maintained a positive view on HUL stock as they believe that given new CEO Rohit Jawa’s leadership and transformation successes in China, the growth momentum of business is likely to further accelerate in coming quarters. A sharp rise in input costs, price-based competition or loss of market share due to Reliance Consumer entering can be the risks to upside, said Anand Rathi.
Asian Markets Securities has initiated coverage on ideaForge Technology stock with a ‘Buy’ rating and a target price of Rs 1,607 per share. It expects ideaForge to see robust 30%, 60% revenue and PAT CAGR respectively during FY23-26E, driven by its “outstanding order book, and a substantial pipeline of potential awards”.
ideaForge holds the distinction of being the first standalone drone company to be listed in the Indian markets, making direct comparisons with other drone companies difficult. “Considering the substantial addressable market, we have assigned a target price of Rs 1,607 per share, valuing the company at 50x FY26E earnings,” said Asian Markets Securities in its report.
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